Second Mile’s insurance wants out of Sandusky’s six figure defense payments

Federal Insurance Co., the insurer for Second Mile that has been paying for the legal defense bills accumulated by Jerry Sandusky – the former assistant football coach for Penn State – is seeking to be excused from having to pay the expenses relating to his child sexual abuse charges, that are expected to reach up to six figures. In fact, Sandusky is currently facing a charge of 50 counts of criminal conduct within alleged sexual abuse of minors cases. The charges include various counts ranging from child endangerment, to sexual…

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Washington fines insurers for undisclosed rate changes

Six insurance companies have been targeted for fines by state insurance commissioner, Mike Kreidler. He has ordered the companies to pay a total of $534,000 after an investigation found that the companies frequently failed to document rate changes in their commercial policies only. The companies write business for personal and commercial risks and are subsidiaries of New Jersey company, Chubb & Son.  Companies cited: Federal Insurance Company Pacific Indemnity Company Great Northern Insurance Company Executive Risk Indemnity, Incorporated Last November, Kreidler threatened to suspend the companies for nine month, but the move was…

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